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Newspaper
Ottawa Herald
Location
Ottawa, Kansas, United States of America
Date
Sep 21, 2005
Page
5
The IRS revival of a leave donation program lets workers give unused vacation days to charity, which employers convert to cash for Hurricane Katrina relief. Employees donate time, not cash, and deductions depend on itemizing. Employers choose recipient charities and handle the donations.
The Federal Reserve lifted the federal funds rate to 3.75 percent, signaling more hikes to curb inflation despite Katrina’s temporary economic impact. The move pushed banks' prime rate to 6.75 percent, with Wells Fargo and KeyCorp among leaders, as energy costs loom large.
The Agriculture Department estimates Katrina losses near 900 million with drought adding about 1.3 billion for corn and soybean growers in Arkansas Illinois Indiana Missouri Ohio and Wisconsin. Cotton and sugarcane declines hit Alabama Mississippi Louisiana with livestock and dairy impacts nationwide.
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